PLS Plantations to place out 19m new shares to Nazir Razak

Datuk Seri Nazir Razak is the chairman and founding partner of Ikhlas Capital Singapore Pte Ltd, a private equity firm based in Singapore.

KUALA LUMPUR: PLS Plantations Bhd, which is shifting its core business into durian plantations, has proposed to place out up to 19 million new shares to former CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak at 95 sen a share.

It said on Friday the 19 million new shares represented about 5.23% and 3.61% of the issued shares under the minimum scenario of 363.20 million shares and maximum scenario of 526.05 million shares. The total cash consideration for the 19 million new shares will be RM18.05mil.